Sanctuary Advisors LLC lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 17.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,778 shares of the construction company's stock after selling 2,006 shares during the quarter. Sanctuary Advisors LLC's holdings in EMCOR Group were worth $4,210,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of EME. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of EMCOR Group by 971.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company's stock valued at $36,978,000 after purchasing an additional 91,837 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in EMCOR Group by 55.6% in the second quarter. Nisa Investment Advisors LLC now owns 31,518 shares of the construction company's stock valued at $11,507,000 after buying an additional 11,265 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of EMCOR Group in the second quarter valued at approximately $383,000. Fifth Third Bancorp grew its position in shares of EMCOR Group by 15.6% during the second quarter. Fifth Third Bancorp now owns 977 shares of the construction company's stock worth $357,000 after acquiring an additional 132 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of EMCOR Group in the 2nd quarter valued at $563,000. Hedge funds and other institutional investors own 92.59% of the company's stock.
Shares of EMCOR Group stock opened at $484.57 on Tuesday. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of 24.61 and a beta of 1.09. EMCOR Group, Inc. has a 52-week low of $209.31 and a 52-week high of $532.38. The company's 50-day simple moving average is $478.94 and its 200-day simple moving average is $415.02.
EMCOR Group (NYSE:EME - Get Free Report) last released its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.61 EPS. Equities research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. EMCOR Group's payout ratio is currently 5.08%.
EME has been the subject of a number of recent research reports. Northcoast Research began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a "buy" rating and a $600.00 price target for the company. StockNews.com upgraded shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 9th. Stifel Nicolaus began coverage on EMCOR Group in a research report on Friday, November 15th. They issued a "buy" rating and a $600.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on EMCOR Group in a research report on Friday, November 22nd. They set a "sell" rating and a $445.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $518.75.
Get Our Latest Report on EME
EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.
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